The Daily Beast issued a challenge to former Project Runway designers: Design an inauguration gown for the First Lady. (At the time, Obama's win was not confirmed.) And! As with all ProjRun challenges, there was a twist: The designers could only use Laura Bush's 2005 Inaugural Ball dress, an American flag, burlap potato sacks and $10 worth of trims of their choice. The resulting sketches? A mixed bag: Partly hideous, partly hilarious and partly high fashion. But we poked around the designer's websites and found dresses from their collections that Ms. Obama might actually wear. The sketches and our choices, after the jump.